Diana Shipping said on February 23, 2024 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.30 annualized). Previously, the company paid $0.00 per share.
Shareholders of record as of March 5, 2024 will receive the payment on March 12, 2024.
At the current share price of $3.10 / share, the stock's dividend yield is 9.68%.
Looking back five years and taking a sample every week, the average dividend yield has been 32.16%, the lowest has been 7.48%, and the highest has been 81.50%. The standard deviation of yields is 18.17 (n=234).
The current dividend yield is 1.24 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.37. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is -0.16%.
What is the Fund Sentiment?
There are 80 funds or institutions reporting positions in Diana Shipping. This is an increase of 11 owner(s) or 15.94% in the last quarter. Average portfolio weight of all funds dedicated to DSX is 0.04%, a decrease of 26.80%. Total shares owned by institutions increased in the last three months by 15.28% to 12,975K shares. 
The put/call ratio of DSX is 0.23, indicating a bullish outlook.
Analyst Price Forecast Suggests 16.81% Upside
As of February 24, 2024, the average one-year price target for Diana Shipping is 3.62. The forecasts range from a low of 2.83 to a high of $4.62. The average price target represents an increase of 16.81% from its latest reported closing price of 3.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Diana Shipping is 292MM, an increase of 11.39%. The projected annual non-GAAP EPS is 0.96.
What are Other Shareholders Doing?
Hosking Partners LLP holds 4,771K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 5,019K shares, representing a decrease of 5.18%. The firm decreased its portfolio allocation in DSX by 22.44% over the last quarter.
Renaissance Technologies holds 2,292K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 1,803K shares, representing an increase of 21.37%. The firm decreased its portfolio allocation in DSX by 1.17% over the last quarter.
Millennium Management holds 765K shares representing 0.70% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Lesa Sroufe holds 679K shares representing 0.62% ownership of the company. In it's prior filing, the firm reported owning 639K shares, representing an increase of 5.94%. The firm decreased its portfolio allocation in DSX by 13.40% over the last quarter.
Stifel Financial holds 400K shares representing 0.37% ownership of the company. In it's prior filing, the firm reported owning 477K shares, representing a decrease of 19.51%. The firm decreased its portfolio allocation in DSX by 84.61% over the last quarter.
Diana Shipping Background Information
(This description is provided by the company.)
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company's vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Additional reading:
- AMENDED AND RESTATED STOCKHOLDERS RIGHTS AGREEMENT DIANA SHIPPING INC. COMPUTERSHARE TRUST COMPANY, N.A., as Rights Agent Dated as of February 2, 2024
- WARRANT AGREEMENT Dated as of December 14, 2023 DIANA SHIPPING INC. COMPUTERSHARE INC. and COMPUTERSHARE TRUST COMPANY, N.A. as Warrant Agent Warrants for Shares of Common Stock of Diana Shipping Inc. TABLE OF CONTENTS
- FORM OF WARRANT AGREEMENT Dated as of December , 2023 DIANA SHIPPING INC. COMPUTERSHARE INC. and COMPUTERSHARE TRUST COMPANY, N.A. as Warrant Agent Warrants for Shares of Common Stock of Diana Shipping Inc. TABLE OF CONTENTS
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